Two Sigma Advisers LP Acquires Shares of 84,690 Consolidated Edison, Inc. (NYSE:ED)

Two Sigma Advisers LP purchased a new stake in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 84,690 shares of the utilities provider's stock, valued at approximately $7,557,000.

A number of other institutional investors have also recently made changes to their positions in ED. Barclays PLC increased its holdings in shares of Consolidated Edison by 30.1% in the 3rd quarter. Barclays PLC now owns 1,231,924 shares of the utilities provider's stock worth $128,279,000 after purchasing an additional 285,115 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Consolidated Edison by 4.0% during the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider's stock valued at $223,373,000 after buying an additional 82,985 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in Consolidated Edison in the 4th quarter worth about $250,000. Ballentine Partners LLC raised its position in Consolidated Edison by 36.0% in the 4th quarter. Ballentine Partners LLC now owns 5,788 shares of the utilities provider's stock worth $516,000 after buying an additional 1,532 shares during the last quarter. Finally, Atomi Financial Group Inc. lifted its stake in Consolidated Edison by 7.2% during the 4th quarter. Atomi Financial Group Inc. now owns 4,659 shares of the utilities provider's stock valued at $416,000 after acquiring an additional 311 shares during the period. Hedge funds and other institutional investors own 66.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Guggenheim lifted their price target on shares of Consolidated Edison from $96.00 to $103.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. UBS Group boosted their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Scotiabank raised their price target on Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research note on Monday, February 24th. Wells Fargo & Company upped their price objective on Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Finally, Morgan Stanley dropped their target price on Consolidated Edison from $94.00 to $93.00 and set an "underweight" rating on the stock in a research report on Thursday, May 22nd. Three analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $104.27.

Consolidated Edison Stock Performance

Shares of NYSE:ED traded down $1.84 during mid-day trading on Wednesday, reaching $102.13. 1,893,612 shares of the company traded hands, compared to its average volume of 2,287,214. The company's 50 day moving average price is $108.17 and its 200-day moving average price is $100.07. The firm has a market cap of $36.80 billion, a PE ratio of 19.49, a PEG ratio of 3.05 and a beta of 0.29. Consolidated Edison, Inc. has a 52 week low of $87.28 and a 52 week high of $114.87. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.30 by ($0.05). The firm had revenue of $4.80 billion during the quarter, compared to analysts' expectations of $4.21 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. During the same period last year, the company earned $2.15 earnings per share. On average, equities analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a yield of 3.33%. Consolidated Edison's payout ratio is presently 62.85%.

About Consolidated Edison

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.